Kirkland & Ellis announced on May 15 that it advised Core Spaces, a real estate investment manager, developer, and operator, on the final close of its latest flagship fund with approximately $1.64 billion in total capital commitments from global investors.
The completion of this fundraising is notable as it represents one of the largest dedicated capital raises in the student housing sector. This development highlights continued investor confidence in Core Spaces’ platform and strategy within university markets.
According to Kirkland & Ellis, the successful closing underscores “continued investor conviction in Core’s differentiated platform, disciplined development strategy and deep pipeline of opportunities across top university markets.” The transaction was supported by a team from Kirkland that included investment funds lawyers Brett Saltzman and Michael Wester; tax lawyer Stan Ramsay; and investment funds regulatory lawyer Nick Hemmingsen.
Core Spaces operates as a vertically integrated firm focused on real estate investments related to student housing. The size of this fund demonstrates ongoing interest among global investors for assets tied to higher education environments.
The outcome signals robust demand for specialized real estate funds targeting student accommodation and suggests further growth opportunities for both Core Spaces and its partners moving forward.
